How mutch cash is really changed hands, in this so called dump manipulation. Its done with pocket money really
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I did read what you wroteā¦I was not referring to the ETN team. Iām referring to whales manipulating the market. They are free to manipulate all they want. No police action can be taken against them.
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Its 69btc 24h on kucoin. Thats not really many hands outā¦
A sellout would be a massive volume.
This stinks fake
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I agreeā¦and I think we are seeing the bounce back now 
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You always have to ask yourself āwhoās buying?ā
Like cryptoman said on kucoin you now have stoplosses which may be a factor but i doubt many are using that feature just yet on kucoin.
Also the option of hidden orders. Bigger players can make you see what they want you to see now. Large sell walls while hiding their buy orders. Essentially selling back to themselves but collecting more from weak hands.
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There is the big green candle I was hinting we would see earlier. This is clear manipulation, like the fisherman tactic we talked about here in the past to weaken overhead sell walls by forcing bots to sell portions of those walls lower. Everyone keep their heads up and refuse to give your coins away to these fishermen.
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The only thing though, is that every time they go fishing it seems that overall the sats end up at a lower price than they start with. I would add that the day hasnāt quite finished, so time to pop back up.
Back in September 06, 2018 price dipped to the lowest price of $0.00501 with a volume of $271k. Then with daily volume around $200k each day for the next 2 weeks there was a steady climb to $0.00601 with a volume of $395k. The next day the volume spiked significantly and seemingly out of nowhere to $1.275m. A week later the volume had spiked to a huge, (for etn) $10.896m and the price had climbed to $2.2 cents.
The point being, is that although we very near to our lowest cent price and with over-supply, the situation can turn around in very quick time.
Is this time any different to Sept-18? I know it was shortly after the launch of instant payment but was that any bigger than going live in SA. Or Chris Gorman OBE, joining the GSMA Intelligence Advisory Board? Or the back end remittance systems for the partners?
I guess the obvious answer is that the market has been much more bearish since September, but I am still of the opinion that significant volume can come back and at short notice!
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absolutely 100% correct. The changes and the volume we have right now are so minuscule that it is hard to imaging exactly what you mentioned with a sudden explosion. We are so caught up in the hour to hour changes that we canāt fathom the real changes that are to comeā¦and it will come. Itās just a matter of time. We are just getting started.
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We got a nice pullback which symbolizes a fakeout. But its not yet the bounce I expect from yesterday.
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Where were you expecting a bounce to, Matt?
Towards the upper resistance around 200 sats but since we may have broken market structure on the last runup Iām leaning more towards 180sats and go from there.
That would be quite a bounce. Maybe tomorrow?
I dont know what timeframe. It could even be 1-2 weeks. Can also happen rapidly.
On the 4 hourly you can also see that ātypicalā reversal candle. It doesnt mean we have to reverse. But it makes it more likely.
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100%. The one thing TA canāt account for, or make an educated guess on, is volume.
That pattern is a hammer. A hammer at the bottom of a downtrend is a bullish reversal doji candle. The color typically does not matter but a green one is preferredā¦thatās exactly what we have.
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Well I got some more at 141 sats, hope we go north from here lol
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DISCLAIMER
Iām not saying this is what is happening, Iām merely comparing what such and event would look like.
So, looking at the ETN chart (taking out prices and looking solely on the chart pattern itself), it looks very much like what a capitulation event would look like with a fast sharp decline and a quick recovery and bounce. Letās see if it continues itās upward trend.
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What do we think headed into the weekend for BTC? Are we close to closing out the heavy resistance zone combined with the descending wedge? I think March 10th was on the radarā¦
I personally believe we are due for a retracement in the market overall. Weāve seen green with significant gains for a week now. I wouldnāt be surprised to see a 61.8% retracement since the last swing low from a very general sense.
I could see that. However, the volume has stayed pretty high which makes me think otherwiseā¦
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